GKOS - Earnings call transcript Q2 2022

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Operator

Welcome to Glaukos Corporation Second Quarter 2022 Financial Results Conference Call. Copies of the company's press release and quarterly summary document both issued after the market close today are available at www.glaukos.com. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] This call is being recorded and an archived replay will be available online in the Investor Relations section at www.glaukos.com. the Relations to and turn President Lewis, now Investor of Corporate will call Chris over Vice I Affairs. Please go ahead.

Chris Lewis

Thank afternoon. good you and

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Tom Burns

on net sequentially Glaukos on sales for X% $XX.X a second currency X% a first but basis. us quarter joining constant Thank reported Today you currency Good basis, year-over-year constant quarter million, thanks up and everyone afternoon approximately Chris. of to today. versus down the

results, As $XXX second million globally, in our versus net for million franchise represents to sequential execution previously, and in $XXX cataract the given MedTech we industry, $XXX year-over-year latest in $XXX particular sales than our XX%. board million a our pleased execution a our million perspective, XXXX quarter are challenging many glaucoma to Glaukos, With in a and U.S. better strategies, outlook. expected reimbursement solid we our face continue XXXX. be the reminder, growth for far U.S. to From the the but of second of raising guidance thus quarter comparable delivering combo range to with of strong commercial -- headwinds the glaucoma franchise of resiliency the

a part Surgeon launched perform procedures. adoption grow quarter, of the that and to features with latter continues the novel we allow first iAccess market of go feedback utilization positive. anatomy device, During instrument to our remains iAccess and customers

for latter During of the also we commenced activities our iPrime, delivery the new device. commercial part second innovative quarter, initial elastic launch disco

platform commercial this we foreign our have to emerged drive once as response access for portfolio While to our additional We're our disease. international suffering within quarterly record to continue coverage patients payer from and to in issues corneal And iPrime execute expanding of exchange treatment strategies delivered MIGS of Our rare our very in market penetration the health designed stages despite deeper again solutions unique around adoption keratoconus customers, adds focus broader we and improve options access in we in XXXX. remain for sales sporadic the globe. franchise of investing glaucoma surgeon, controlled this grow patients franchise, to on headwinds that launch, and early significant

our pipeline. the to On development front, continue we advance

compelling provide effectiveness, foundational treatment safety alternative believe for indicated favorable launches procedure for commercial first-ever our that the received novel in glaucoma Supported standalone device have pivotal injectable today market iPrime, a Glaukos patients the Following therapy. clearance provide we with by medical the for a MIGS uncontrolled control recent infinite IOP stent iStent use patients. a FDA glaucoma significant announce and and as surgical prior system milestone we and designed may XX/X treatment. implantable three XXX(k) glaucoma micro-invasive a to FDA and data, as clearance infinite, with open angle we're surgeons to strong by of and new for represents iStent highlighting iAccess standalone for delighted atomic clearances This

are later to promising this year. initial for commercial preparing We launch technology activities this commence

regulatory Our hard also teams for topline III iDose advancing a we clinical at this or expect in later position be data work Epi-AXA and year. and TR remain and Phase respectively pre-submission TR to announce activities to iDose

our disease we during to dry iLution enrollment second of pipeline, stage eye the we completed trial terms our are announce for In II quarter. clinical in happy patient earlier Phase

clinical this third quarter presbyopia iLution readouts data XXXX. anticipate We during also and trial for expect to we for complete trials each our II these patient enrollment early for by Phase initial of

planning and over to launches drop We are suffering meaningfully the fundamentally threatening the midst now of new Glaukos several for that for over advance new sight has cadence diseases. robust platform and transform a the years of in from coming and product time, less potential patients product are the standard-of-care outcomes introductions and improve

are vision. such, our and scale our we continuing mission to to in to Glaukos transform invest As team advance to

are to in execute about ability to in years come. our We and confident our the our plans excited prospects

call to questions. Operator? with that, the I'll So, open

Operator

question first Thank take [Operator our at you. And Andrew William from we'll Instructions] Brackmann Blair.

Andrew Brackmann

guess you level on just the topline short your about mid-September, you're taking But how start in going last level at be pipeline thinking after for and as as afternoon all in confidence you'll enrolled, thanks your Good here, evaluate that talk just scorecard guess, I to to Maybe can And patient and you question. the the provided there, XX the and of to that particular anything up of Tom. here can term that that study? the looking guys. follow-up be we opportunity just I beyond remarks, sit last Thanks. data, appreciate in that that the looking in iDose, at Hey that about success sort months this you trial, be successful? commentary set will the you're a sort

Tom Burns

Yes, happy take to question. the

look recently happened important this announced been. found If product IIb scrutinize with of And kind XX% the we iDose successful earlier on Phase data the same this results year, of were has it's so just review well-controlled and we that patients to we how in many or that a mean X.X with reduction patients for mercury. months -- the IOP the pre-screening. range these millimeters average The fewer there and three iDose from or to on months two XX topical IOP of scenarios meds at p[indiscernible] of were various group XX what X.X these in

ocular reductions So, really in pressure. sustained

in So, of terms iDose similar versus we reductions, months but IOP any topical were mean analysis, by and timolol medications invariably pleased with fewer to XX far TR timolol. the that performs

really of extremely the the the results. were saw we importantly, kind And important chromia okay, instance And loss well-tolerated. safety endothelial of atrophy. well fat periorbital those clinically no it's to one found say and Timolol we versus corneal So, hyperemia, iris control. think too And or was ocular significant color changing. I only product efficacy found no what We happened no hyper cell on then side topline

are these significantly device. for safety this powerful So, factors

look a release of because XX/X sustained And cause and provide been substantial of for glaucoma medication the has is we appetite non-compliance kind the of ubiquitous, appetite glaucoma what a such could so marketplace, disease. so occurring there always rapid when that's the in control progression a at underlying underlying that of

will the standalone in I glaucoma. that non-compliance be that importantly, of different think of, patients glaucoma, complementary of use eye. different formulation issues change the topical have issues used who procedure, be product allergy kind think the a a so a the have have we There to surface have this cataract to of don't be simple as iDose believe overcome you product and will for this able continue issues toxic the an nice are places combination preservatives be become treat, expect and disease, incredibly in comorbid not to we will of able surface -- a number product on used state, that it use could and represents of, paradigm do pour agents injection who disease to of for ocular underlying be to with the patients to the that kind of those I

exciting. So, it's

to was a Allergan, does iDose I'm tracked that the it restricted loss. high what's again, we the years introduced loss cell clinically to And think endothelial you can appetite as And some use in that loss. label strong the we happened And relatively to Phase expect the have I product they've hopeful rates corneal -- of of the clinical corneal a product. as endothelial the was flaws. the cell innovative know but see corneal you of and not already significant see the product, the of product, of two and we trial. endothelial no one-time IIb do it one saw for novel derivative conditions a uptake is with because see cell part

of to and and patients the product move initial exchanging the And product cohort medication. a us exchange be as to following once has of implanted situ sequentially doing they've which, as in that will NDA, if part been expect a data In and the time of cohort clinical prepared or submitted trial. of part part our look this the longer we're common addition, be a the we period favorable, right of of far once at patients will iDose the we're the to that give able over and forward use product of depleted as

excitement checks, to strong to you that you're you're enter finding the of with tailwind many So, ranks, are able to we expect finding be appetite, channel do behind starting a us. in

gives set productive good a strong ASP. When products the a fair backbone their four over $X,XXX and J-Code market -- Allergan product to meets this done it from I good I at primarily last as designed predicate me last introducing business. say derivative eye. for marketer in months the And think which a and that us, introducing for that, rate has a

of get And a data I'm period analysts early opening So year investors important short by up end that direction beginning comments in the in to hopefully, publish and hands heard we of think or that the next this will you I've moving very given short and end data year. thing time. to by either from the my sighted, in year I by is

Andrew Brackmann

you for all this Thanks I putting should about if can very of initial later into And color. What that proposed market efforts for of the us be iStent the you'll the tell about we helpful. of infinite commercialization quickly, sort just there? uptake of congrats Very, could building XXXX switch Maybe some on be out light efforts the approval Thanks. thinking right, how facility, that in year and and XXXX? there.

Joe Gilliam

receiving clearance. Andrew. Sure, we're happy to that FDA Its I'm cover obviously, excited Joe. about the

first the chance micro-invasive standalone ever us another market glaucoma the yet pioneer mentioned Tom As to for implantable with device treatments. for

here enthusiastic about we're So, that launch.

receive of a to approved sterile you approval, to you have it formal and and inventory labels launch series timing, logistics As and the steps training plan. finalize relates anytime an in

the year you'll and So, intents soft we for a kind of we've part moment. for exit that the as of expect this better quarter been hard would at see work preparing and I launch all for fourth. purposes, the into head third activities

sense that should a that So, give that you timing. of

fee the there. and just already while And that and I some work on the been think We've do. that, on that obviously, before, facility referenced proposals You front. say we work we're of have to here hard to I'll

Andrew Brackmann

guys. Thanks

Operator

to We'll next Chris Cooley Stephens. move at

Chris Cooley

the on you Congrats appreciate great afternoon. Good questions. taking a quarter and

if me, Just to for I may.

does more hoping duration effect just what thinking bit in we I granular we color stages, And appreciate of like a this look so Chris the just And much curious But already Could as uses think but duresta maybe just perspective. would all early need for, obviously have at iDose this would kind from provided you like pathway when level deck, think dev First, work. kind reimbursement you. have again, envision reimbursement there? next a Thank clin we us undertake, to here P&L? iDose. we the you've which a piece kind and you was a that secondly, But outlook the device? possibly when on an again, aspect? into you proceeding about for But get to think that type like on a looking pharmaceutical the bench could I'm we investment about to [indiscernible]. about commend and on a board just that longer to of kick to Obviously, built a the questions. and of pathway little provides and the predicate I start can out then pipeline, start marketing, increasingly R&D from high the for I'll walk And think to company, do you what Andrew's bring of of and it's looks at sales you through follow-up that Tom, TR? the as of great reimbursement

Tom Burns

take to happy be I'll Chris, your questions. Yes,

question talked about So, the iDose was me reimbursement. first that you to

the in under That a getting that So current already it think, put as know, Committee, data code X we've AMA it's successful by now CPT hospital. in for you Category I we're exclusion, right set table then, the corrupted in doesn't so with code that by established. would the applying category code be people that

what is And commercial to launch. open it up prior so do just we'll we'll with CMS

we'll the and is and try much And perioperative a device have the a to establish professional product of iDose with it iStent of a highest in like to standalone procedure infinite like to to crosswalk so have we to do what putting fee. crosswalk a X establish we'll that Category different max do

past to do as we the proficient in that at will and something the move forward so with we quite iDose. been it's So, we've continue

looking in and approval. an the the be time level payments in forward of assigned the for will with -- device, terms of this at APC APC In the

that J-Code we the at Now J-Code J-Code We'll this have for in products J-Code forward a then out apply get remember, will meet for will so quarter. -- a assigned iDose miscellaneous be and be miscellaneous hicks-fix when J-Code the and following and that we'll carve itself will and that that every committees way. take to launch, code

be that with sit infinite, assignment, happens serves the we'll the launch. iStent not get look the to like price will it, if we that. much by out we if or be reengage assignments assignment carved need And The or And APC whether see we we'll CMS will or with marketplace formalizing the APC believe by then like and at formal so that to facility, iStent we tight. will be iDose remember because at an a J-Code from wholly-owned best getting we'll point subsequent then

puts position these So of profitability devices. nice for achieve able facility doing a in to the

proportionally facility I've I and at So, designed appears we lasting answered length months. for you to about $X,XXX the fully, I that's been to on many of open of I a upon have risk a has professional a iDose. price four lot running price a side indication any IIb want to establish therapy. can that by don't being will the in But that iDose, look, data Phase based the think of for point rate see field for both able months, side the give be which to fees set question your last Again,

think buy were and our this of two and these successful, about are forward, though would products, and surgical get When bifurcate, really can using bill different your is handled to established iRock surgical really pharmaceutical we the business, one, by and of I which business, and that into by needs side by like reap you are current products salesforce. TREX, pharmaceutical sections, a iDose that iDose, in scale question, this list talking very so if bringing surgical we adding devices pharmaceutical. those salesforce where And to pharmaceuticals it investing to really the we're the pharmaceuticals. pharmaceuticals approach into crosslinking, both reward he new additional animal. I second a And And that's retail be

through the on that. have separate pharmaceutical our secondary to to Make We've we the but device channels, salesforce mistake, So, and experience in so. to need as establish able best surgical will do we bifurcate teams are have wholesale establish we will much when to we of doing confident products. applications in market that's transdermal and past side, like iLution, be substantial and we had to at the launch which where no and topical look a approaches and go need approach would pharmacy like we'll salesforce those

I that think answers that question. your

Chris Cooley

Thank you.

Operator

next move at Biegelsen Wells We'll to Larry Fargo.

Unidentified Analyst

question. on Charles Larry. is this for Hi, for taking the Thanks

Just a couple on iPrime.

about And if you. year final the like the could device rule in area. controlled just didn't for you get last Thank bit last? how the initial to change think got I Do rule? possible you ask First, a that in that might about might talk the maybe looks launch iPrime you're second, you think then intensive long could that's little

Joe Gilliam

Sure Charles, Joe. this is

to the I table hesitate reimbursement, through from we'd things the clearly up speculate through on most it's think and final like to rule. rule proposed on the

So, XXXXX. of, happen as entirely that of could possible a that part that

the initial relates single in as commercial don't we've I customers, early mentioned, the launch, as think think continue to and it we launch to we're our commenced time in path. activities in typically feel It going I until down that option. the new a our quarter there's very it moment proficient with time with are like of dramatically. this to wave changes one sort customers these at a where situations, expand continues we

Unidentified Analyst

you. Thank

Operator

at BTIG. Zimmerman go We'll to next Ryan

Ryan Zimmerman

Thanks more have on questions the guys. couple ask level taking questions. maybe this a to quarter for I questions. for Congrats some high you but the Joe, I also and Tom, want one's

So, so of the in of it million the a the go you or similar kind guidance, you your first, in done the for guidance, about guidance. seasonality And particularly thus we year. terms when to raised XX%-plus what run suggests if quarter, rate first year seen, year what XXXX back but of $X half we've of in as think and the fourth far, that at saw we you've midpoint, about the look on at I this first the half

year, And of Joe. that Hopefully, doesn't out for you have quarter, clear, the fourth little was guidance bit today. where a given stick just the so higher in why the particularly remainder

Joe Gilliam

Ryan. No, it is,

fair the articulated a certainly anticipate think, just, given well. one you question would analytics that think I totally and that I

foremost, all the that If or various you otherwise, guidepost in emerged at sure – just marketplace, for in think the seasonality the things about I particular pattern so and in material a would is for guideline the while as on exchange think I'm situation, going not I I with and the product for typical and In that good certainly launch second pretty that foreign have how say follow look math, to maybe – we think, evolve to year. has a our us, half certainly as everyone. some about the you I not here, headwind things think first

second how you're have of entering that at over quarter about the end the second think transpired the in about trying the these you the then and in course you quarter that quarter, factor and strengthens third, certainly the things. of -- really into when to and to headwind think So first the

but think about first I you've we thing, ton We they're a of think their both – for would versus progresses, formidable the us many think times expect half to second is have second you a we respect year as get The heard competitor they'll Alcon. in US, say that say here that half the legs that and internationally. we when sea continue also

the heard account in So payer factors, the from things the of side. you've some a right, part of before, this CMS things earnings impact commercial other about beyond volatility types ongoing dynamics health staffing, of of cuts, the that talk the as corneal pro heard us that, companies fee probably you season,

put that way macroeconomic a coming we and bit specific just kind beat we sort full of little we're to guidance that quarter, pass call really be I all the look able the headwinds right, that guess this to of here we entirety second and year to and given is of pleased the pretty into had the raise the face. again, be all more through to that able at the and You in together,

Ryan Zimmerman

reimbursement that philosophy components about navigate devices of the your how think all of multitude flux? canal Glaukos' the with reimbursement that of how change Joe. and so a fair, devices. where landscape where the you start the proposed such to appreciate Tom, totally of the this I just mean, space, in based now out, seen moving And landscape is then was That the you offer, year in really these I reimbursement fees view impact codes stent I for shakes right? I that for – given would And we've now based in appreciate around you commentary. treatments, you, the much mean,

Tom Burns

it's I almost Ryan, question, good that can about I a it's assure Well, and think daily. something you

look that what were a winds, code side procedural back device. As to able stand. We to that to passed, combination shifting of kind pleased. and with draconian We And into to now So were particularly the a know We some significant we've transitions to claw really be X things we were some procedure procedures. and cuts at year. are APC hard important right? now the think I for that value cataract we thought moved is able fundamentally able couple of iStent Category carve we be where on profitable providers happened the the we're able the really use last back, preserve really a the of

And important. with pains codes. create markets, growing so to you these that's go new new through really we have Whenever these

lot we'll procedure with the iStent over we're the believe a that much with at, X setbacks marketplace. crosswalk see process try going of them next to into so same had the so we and we we X within and this, next a this of doing months, episodic And to And there time on be MIGS iDose side. been patience. built something in professional muscle represents but fee do thing something like each there the will to convince good the the and as clearly takes the We'll appropriately it's It's RVUs light to infinite that to able that be for the feel of procedure.

to infinite, will streamlined to Although a kind forward, of and I more expect we be settle be to we on efficient iStent that think approach take I sideshow a but with the that on once procedural that J-code getting twice behind. that can get CMS will in the with where do want basically the and subject fair and think through we will way stand a represent iDose of of then with substantially we we think favorably present TREX the TREX that on marketplace we position pricing not by J-code for is approximately resident to is the more own And formal a device. in that's our review. to that's what can remind works really The everybody that, and moving pharmacoeconomics the that board, amount, follows, the they the API the get is well, the product the device. J-code has that once the subject pay microgram product as because we – I

So we think and, about move forward. on consistency predictability that legs as investors that say, forward gives and us going as we for would payments I

when something you new this is We're the We're at the So go front that you marketplaces, these you a through and pioneer. pains are growing We're that build end. that leader. take. the

payoff build in creating and in keratoconus this creating this subsequent marketplace. but the And We'll We We're marketplace we we're marketplace we for as with new iDose at We we're value are every a therapy. seeing create a sustained a process, good at cross-linking It's marketplace. generations. difficult there, think it. it is become and day. at already the payoff

Ryan Zimmerman

appreciate Tom. it. Thanks,

Tom Burns

Appreciated.

Operator

Sandler. Piper at O'Brien Matt to next move We'll

Unidentified Analyst

Hey, for Can Matt. me, Drew hear all you this on is right?

Tom Burns

Yes, Yes.

Unidentified Analyst

Hello.

Tom Burns

hear you. can We

Unidentified Analyst

questions, the taking on Sorry. my quarter. Thanks congrats for and

be implants, recently power? XXXXX stating if one specifically, angle incision you dynamics, other minimal in of the that So conjunction what LCD are the my incidental. reimbursement first seeing More used goniotomy, even or stents surgery not language with should in came on with terms surrounding staying that is out dual procedure the Palmetto

power it of So what's dynamic here kind of forward? the sustained that going

Joe Gilliam

Thanks for the question, Phil.

I think LCD, first but it's all, technical important. an LCA, not it's of difference, the --

company what they and ultimately two surgeon you two separate necessary and discretion govern. separate reasonable medically two anytime should think have distinct deem on devices, procedures I codes,

in and is reimbursed that's not medicine practiced the think ophthalmology. just way throughout, I most

the sight-threatening the given is to tools has where the ultimately clinical this trend one, optimize assessed years that it's for thoroughly mean, multiple disease, surgeons progressive growing patient. this on want been quite think, I to AO I the a expanding outcome utilize for here.

recently come more their AO in out, we in bulletins both XXXX the quite March So then think combination cataracts. sheet utilization that with this. And around of clear. the with looked fact of canaloplasty is goniotomy They at with

as our overall we provide while grow our surgeons continue Palmetto to maximize customers behalf goal ultimately, areas and minimally the And of So here up, work doing or benefit is best whether navigate to that patients patients. pop right, that invasive things through market to tools, so. are it's with hopefully, to on the we'll and of other sort that, the and

Unidentified Analyst

And more you. you things come as Others follow-up first seeing quick you just surgeons here. Thank are some in front? color. Glaukos on competitive that that Great. products? for changes aware of nature. trialing Thank that reimbursement and on What other and a then trialing the some I went assume after back leave became of half

Joe Gilliam

customers like coming of anytime think you the that sort You professional in have I'd see going the above, trends. stent-based therapy to of try launch the for new same I into solutions come trial their patients. and back, CMS that fees all have long-term marketplace. other also you provide type the our the products year, into some something Well, see we right? in And say changes who of disruption and the you're the as best of trialing market trend -- alternatives the saw will And own we recognizing products

We've move wanted and other dynamics those physicians full of think continue So to to and forward. patients, who for positioned. alternatives we're solutions for we'll I got those a try well portfolio their navigate

Unidentified Analyst

again congrats Thanks Awesome. questions, quarter. the taking and my on for

Tom Burns

Thanks, Bill.

Operator

Stifel. question Tom take We'll next of our Stephan from

Tom Stephan

can questions. Hey, Thanks I Great. If start iDose. on guys. for the

target if the this, NDA all. but as submission I year-end XXXX, Sorry, missed at changed

that a should service? or Can to about how specific guess, clarify you not think of was Just we the out? can potentially second, think lower release guess I press just whether the beyond forward? I talk I And if want site commentary the about so, is path bit. the informing [ph]? that move And bit can this on then call iDose? a there change in something altered you

Tom Burns

Yes.

the latter question device benign happy be is along, we've first. a very highly procedure to through that And said very, all I'll Tom, take the today as iDose small Okay. goes incision. a

a substantial it's progress, able of to able see you're incision, the potentially then move, so the if from strategy used an to [indiscernible]. And go provide flow able will eventually of of a or iDose is fact able that the in And codes code able have to product. do to that be procedure. able iDose which the there actively eye, with office. be to making come one to the that to either what's will for I a use also pressure time place things the where and And beginning be -- in have can that will be be injectable for device, of couple described that we'll and been have through are you to able be that the working happen, implantation, we're we'll iDose single do not in for the able have the we on approaching keep and in complete which and codes the the so, we've the aqueous to iDose enough called is able previously, ASC minor And offer where they the in can think this I [indiscernible] be out ASC, another When in product execute a and up we humor I've with or some the our can and to being get been the can applicator small eye. the

this are creating that that. able extent provide the mission we the to and and again, it's be our applicator, to we'll successful, been from So beginning,

the now, this about having that in I'm telling to There said this used. me, agnostic that, they moving forward. are product stay ASC is right and surgeons many are want where Now keep

overtime. hope to both my my that would be delivery and provide be so to to options for able And surgeons

Joe Gilliam

there intended a for anything iDose in news the year-end of made otherwise, our part or while. be Hey, respect I an talking been We've submission. have And would the IR Tom, your was to it's press Joe. of think timing to around materials release question, first don't that

we'd that to the the said a the the given. that which pre-submission ongoing, was forward think remarks iDose are data news thing referenced we which was the activities in Tom's he's that probably you'd and prior that, year-end, of we provide expect bit I to only was only guidance that prepared actually, little some move from that prepared prior

Tom Stephan

Got it.

blocking for tackling in specific of and the to terms kind just call of Nothing pre-submission out? iDose? items So

Tom Burns

end the I further, that take there publish fact stayed anything that that be before by able and and this the Tom, be would before say from to data from able Again, early remarks, the we next of I up if data. this we year year. publish would won't it want No. my I've publish that you have saying the to to moved

investors, we I you track So wedded and should data. time, for are again, then some show been think things deliver that that have on appetites plan to

Tom Stephan

are maybe Perfect. the think to And things the at, hitting I I terms you've clearly estimates glaucoma. get the state point That's us handily. Hopefully, are -- that our a mean, things of going say I'm I points, helpful. behind steady you just worst sense. would well, now kind guess. upside, or where What be surprised then pressure a because entered year-to-date. to might even improving? beat makes my trying you and most maybe What second US question you in on are of

Tom Burns

It does, Tom.

the we're year. think halfway I through

what continued the I core the resilience cataract question. to from stability stent think In core pleased the I your been early overall contribution second the were combo in in iAccess. we've with I'll think the quarter, environment, stability franchise. the and with pleased we of And the of pricing still characterizes

of maximize the continue a a think points look surgeons there into the benefits will little I good this year But can think what that I and sure of QX that that it's products and how making extrapolate pretty and sure of And to we we've making day transpire. every opportunity victory the aware life prophy are is to we're data that around, terms sort out in day cuts. patients bit there. after had in this early of our like QX

Tom Stephan

guys. Thanks, Great.

Operator

at Zach next move We'll to Jefferies. Weiner

Zach Weiner

taking And about as to last just and quarter? for then that staffing you you've well? talk on the the a through that Can the question. some wanted challenges I of you're touch little surgical seen thanks question. any inflationary pressures Hey, throughputs seeing bit if from

Tom Burns

companies inflation, some course earning related job Yes. I COVID, some in dynamics, I happened shifts we're combination mean, labor causing probably of from season, that clearly heard is the you've immune to the that a market have the think of think, this over what multiple market ORs disruption not I to having some staffing optimal year, and often these at and customers max our staffing, the to in from course And ASCs hospital support at hospital running maintaining recently it over efficiency. make run administration, those for lanes, helped maintaining including OR hear of that techs this around they're we challenges that and capacity. related

landscape dynamic it across healthcare think that this ophthalmology a I as persists is well. within and certainly So the

Zach Weiner

Got it. you. Thank helpful. That's

Operator

to at JPMorgan. go Allen we'll And next Gong

Unidentified Analyst

of for [ph] a had about Robin just expectations R&D in OpEx I is on going the ups There for are SG&A kind question Allen. this in healthy forward? actually quarter. your pretty Hi, some step and

kind guidance, not obviously for should ultimately think how formal do of So about do and obviously especially not year? the think kind how you spend on end well, infinite of And of as XXXX this we providing think what's into or you but iDose? needed --

Alex Thurman

Yes, Alex, This and thanks try for to question. address is the I'll that.

second did we in included that $XX XX know, you licensing to this reported in that as -- our the million, So number agreement we million $XX quarter. financials, and related in is did

let's things we'll -- to $XX talk take million out. about now, the just going we're So that

in we're at sitting QX. that spin $XX So an about million

R&D there. then for $XXX million for a OpEx what be being north about year we we've about come about about expect, as that little continued give we investments million. about maybe is put or or QX, a reasons half, probably what million in the that you up take saw are the -- a in have couple $XXX in $XXX right? We few And will our And If our million talked might here you next The that we've range, doing, our from you continuing think first the to of $XXX quarters, profile commercial We've our your where and quarters, step the happening new what OpEx well on the or as same side, company. that clinical organization. million this as just and around with if so ongoing previous happen think what activities that, of OpEx up, product launch the are it's probably year, we're that pipeline nature. activities programs, of things regulatory enhance we're got in maybe

Unidentified Analyst

you. Thank Great.

Operator

I'll closing for any our conference remarks. conclude for At does question-and-answer session turn that today. back And time, over management to this the

Tom Burns

your all much so hope staying you And interest attention Thank Glaukos. everyone you Goodbye. you is for time thank your continued of safe. and for Okay. also today, in and we we

Operator

does that for conference. today's participation. your Again, you And conclude thank

You disconnect. may now

Glaukos (GKOS) 4 Aug 222022 Q2 Earnings call transcript